Baker Ellis Asset Management LLC Lowers Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Baker Ellis Asset Management LLC decreased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,383 shares of the company’s stock after selling 922 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Fortune Brands Innovations were worth $4,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FBIN. CIBC Asset Management Inc grew its holdings in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after purchasing an additional 121 shares during the period. Smithfield Trust Co grew its holdings in shares of Fortune Brands Innovations by 4.6% during the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after purchasing an additional 133 shares during the period. Wedmont Private Capital grew its holdings in shares of Fortune Brands Innovations by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after purchasing an additional 164 shares during the period. CWM LLC boosted its holdings in Fortune Brands Innovations by 8.3% in the 3rd quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after acquiring an additional 169 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FBIN. Truist Financial upped their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI decreased their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group upped their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays decreased their price target on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, BMO Capital Markets upped their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.36.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $73.13 on Thursday. The business’s 50 day moving average is $73.57 and its two-hundred day moving average is $77.95. Fortune Brands Innovations, Inc. has a 52-week low of $62.54 and a 52-week high of $90.54. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.21 and a beta of 1.49. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Fortune Brands Innovations Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.